Answer:
it will take 20.75 year to reach amount $20000
Explanation:
It is given that average worker in China makes $5000 per year
So principal amount P = $5000
It is given that wage are keeping up with a rate of 7%
So rate of interest r = 7 %
We have to find the time in which amount will become $20000 per year
We know that total amount is given by , here n is time period and r is rate of interest
So
So
Taking log both side
n = 20.75 year
So it will take 20.75 year to reach amount $20000
Answer and Explanation:
a. If there is an increase in export so it would lead to increase in net exports also the aggregate demand would also increase due to which the real GDP would rise
b. This would cause the inflation
c. So the appropriate fiscal policy would increase the taxes and reduction in the government purchase. This would decrease the aggregate demand
d. These actions would reducing the actual real GDP
Answer:
The statement is: True.
Explanation:
Private goods are those that individuals own and are destined to use for their use only. The owners have all rights on their properties up to the limits the local government imposes. Public services are those given to all individuals freely and can be used simultaneously or once at the time.
<em>The increase of private goods usually tends to demand for more public services societies must be intake care of.</em>
Hey...Im pretty sure its D ;p i hope i helped
Answer:
Countries specialize in order to increase their trade. Imagine a country that has specialized in rubber production and suddenly other more efficient synthetic products have replaced rubber. That means that the demand of rubber has fallen. This would create the country to face labor unemployment, lack of trade for rubber, a long period of stagnant growth indirectly effecting the economy adversely.
Therefore countries prefer to go along with trade and avoid specialization so as to avoid period of stagnant growth.